Africa: Cashew Nut Market 2024

Cashew Nut Market Size in Africa

The African cashew nut market was finally on the rise to reach $X in 2022, after three years of decline. The total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Cashew Nut Production in Africa

In value terms, cashew nut production rose to $X in 2022 estimated in export price. Over the period under review, production, however, showed pronounced growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Cote d'Ivoire (X tons), Ghana (X tons) and Nigeria (X tons), together accounting for X% of total production. Tanzania, Benin, Mozambique, Burkina Faso, Guinea-Bissau, Senegal, Mali, Guinea and Gambia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average yield of cashew nuts in Africa fell to X kg per ha, with a decrease of X% compared with the year before. In general, the yield continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the cashew nut yield reached the peak level at X kg per ha in 2017; however, from 2018 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of cashew nuts in Africa was estimated at X ha, almost unchanged from 2021. The harvested area increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the harvested area attained the peak level of X ha. From 2019 to 2022, the growth of the cashew nut harvested area failed to regain momentum.

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Cashew Nut Exports

Exports in Africa

In 2022, after three years of growth, there was significant decline in overseas shipments of cashew nuts, when their volume decreased by X% to X tons. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, cashew nut exports dropped dramatically to $X in 2022. Total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire represented the key exporter of cashew nuts in Africa, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2022. Ghana (X tons) held the second position in the ranking, distantly followed by Tanzania (X tons), Nigeria (X tons), Burkina Faso (X tons), Senegal (X tons) and Guinea-Bissau (X tons). All these countries together took approx. X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Senegal (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Ghana ($X) and Tanzania ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Nigeria, Guinea-Bissau, Burkina Faso and Senegal lagged somewhat behind, together accounting for a further X%.

Senegal, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Africa stood at $X per ton in 2022, declining by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Guinea-Bissau ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced more modest paces of growth.

Cashew Nut Imports

Imports in Africa

In 2022, imports of cashew nuts in Africa skyrocketed to X tons, with an increase of X% against the previous year. Over the period under review, imports saw prominent growth. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, cashew nut imports declined to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Togo represented the major importer of cashew nuts in Africa, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2022. Algeria (X tons) held the second position in the ranking, followed by Burkina Faso (X tons) and South Africa (X tons). All these countries together took approx. X% share of total imports.

Imports into Togo increased at an average annual rate of X% from 2012 to 2022. At the same time, Algeria (X%) and South Africa (X%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. By contrast, Burkina Faso (X%) illustrated a downward trend over the same period. While the share of Togo (X p.p.) and Algeria (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Burkina Faso (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Algeria ($X), South Africa ($X) and Togo ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, Algeria, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, which is down by X% against the previous year. In general, the import price continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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